A truck from Colombia enters Venezuela through the Táchira border crossing. File photo.
The bilateral trade volume between Venezuela and Colombia reached $607.3 million during January-July 2024, representing a 36.5% increase compared to the $445 million during the same period of the previous year, as reported by the Chamber of Venezuela-Colombia Economic Integration (CAVECOL).
According to the report, the land border routes between Colombia and Venezuela account for the majority of the commercial exchange between the two countries, representing 71.2% of the total. Out of this, 40.8% (equivalent to $176.8 million) is recorded at the border crossings between Táchira and Norte de Santander, while the exchange between Paraguachón and Maicao reached $256.1 million, representing 59.2% of the total trade by land.
Main route is through Táchira
Of the total export volume by Venezuela to Colombia, $6.6 million worth of goods were transported by land through Paraguachón, while $26.2 million were exported through Táchira, making it the main route for land exports. This means that 40.1% of Venezuela’s export operations to Colombia are conducted by land.
The top five Venezuelan products exported to Colombia during January-July 2024 were iron and steel casting ($24.1 million), fertilizers ($11.3 million), organic chemicals ($5.1 million), fuels and oils ($3.9 million), and plastics and derivatives ($0.7 million).
Vice President Rodríguez Highlights Venezuela’s Capacity to Face Economic Warfare
Meanwhile, imports of Colombian products to Venezuela experienced an increase of 46.3% during January-2024, reaching a total value of $525.4 million, according to data from the National Administrative Department of Statistics of Colombia (DANE). 76% of these imports were conducted by land. Paraguachón became the main entry customs point, with $249 million worth if goods entering through that point, while the three customs points in Táchira together recorded $151 million.
The principal import items include plastic goods ($56.9 million), sugars and confectionery items ($44.7 million), fuels ($22 million), essential oils, perfumes and cosmetics ($21.3 million), and electrical equipment and materials ($18.6 million).
(Últimas Noticias) with Orinoco Tribune content
Translation: Orinoco Tribune
OT/SC/DZ
